Analysis Financial News

Benchmark NSE Nifty closed 58.8 points down at 24619.0 amid selling in frontline bluechip counters.

stocks rallied as much as 15% in Mumbai trading on Monday even as equity benchmarks, BSE Sensex and NSE Nifty, traded in the amid brisk in frontline bluechip counters. Stocks that surged in excess of 15% included, Indo Asia Fin(20.00%), The Phosphate Co.(20.00%), Sundaram Brake(20.00%), Indo Us Bio-Tech(19.99%), Orbit Exports(19.99%), Ind Swift Ltd(19.99%), Rajdarshan Ind(19.98%), Apoorva Leasing Finance(19.98%), Mahalaxmi Rub(19.98%) and AdityaBirlaMoney(19.97%).

These high-performing stocks that rallied more than 10% during the session included, Lambodhara Text(14.92%), ITI Ltd(14.84%), Captain Polyplast(14.29%), Sibar Auto Parts(14.26%), Umang Dairies(14.03%), Integra Capital(13.57%), HKG Ltd(13.45%), Indo Count Ind(13.41%), Shiva Mills(13.10%) and IST Ltd(13.07%).

Shares of Balkrishna Industries Ltd.(up 1.83 per cent), Apollo Tyres Ltd.(up 1.35 per cent), MRF Ltd.(up 1.17 per cent), Exide Industries Ltd.(up 0.93 per cent) and Bharat Forge Ltd.(up 0.65 per cent) ended the day as top gainers in the pack.

Madhav Marbles & Granites Ltd.(up 3.08%), Ashapura Minechem Ltd.(up 2.34%), Pokarna Ltd.(up 2.00%), NMDC Ltd.(up 1.21%), Sandur Manganese & Iron Ores Ltd.(up 1.00%) and KIOCL Ltd.(up 0.75%) stood among the top gainers.

textile stocks on Monday which shot up 14% in the intraday trade. The stocks rose on expectations of manufacturing orders shifting to India. The eastern neighbour’s fallout with Punjab-based Trident took the lead. Trident shares on Monday ended at Rs 38.04, up by 10.4% while Himatsingka settled at Rs 211, gaining over 8%. Meanwhile, Welspun Living and Gokaldas Exports shares finished at Rs 1,035 and Rs 173.60, respectively surging by 6.5% and 5.7%.

On the BSE, Mishtann Foods(down 19.96 per cent), Vision Corp(down 14.49 per cent), Conart Engg(down 13.53 per cent), Novateor Research(down 9.98 per cent) and IO System Ltd(down 9.96 per cent) stood among the top losers in today's trade.

Umang Dairies Ltd.(up 14.44%), Future Consumer Ltd.(up 3.58%), LT Foods Ltd.(up 3.17%), Sheetal Cool Products Ltd.(up 2.12%), Bajaj Consumer Care Ltd.(up 1.77%), Bikaji Foods International Ltd.(up 1.41%), Hatsun Agro Products Ltd.(up 1.01%), Dodla Dairy Ltd.(up 0.92%), Tasty Bite Eatables Ltd.(up 0.65%) and Heritage Foods Ltd.(up 0.53%) stood among the top gainers.

Arnab Banerjee, MD & CEO, Ceat, says acquisition of this business will make Ceat’s international business contribution to cross 25%from day one and, this is EBITDA accretive and will contribute to the overall margin accretion of Ceat consolidated. OHT business will almost double in turnover post this acquisition and will be almost 23-24% of Ceat’s overall turnover from day one and progressively improve to 27-28, 30% over the next three to four years. Ceat is going to acquire Camso tyres and tracks business from Michelin. This transaction aligns with your goal to expand internationally but from the numbers perspective, is this deal going to be EPS accretive and if yes, can you quantify the impact then? Arnab Banerjee: Yes, it will definitely be EPS accretive over a period of time. First of all, it will take about six months to complete the deal. We will get possession of the property by May-June of FY26 and thereafter we will start consolidating this result. So, in the initial period, there is offtake and a supply agreement with Michelin so that business continuity is mentioned. That is a very good arrangement and when we gradually start getting control of the entire operation, it will be EBITDA accretive first and then EPS accretive. So, in the initial two to three years, we might see a slight dip in EPS which will come back up.

Colgate-Palmolive (India) Ltd. 3.14 per cent to Rs 2793.75 at 01:55PM hours (IST) on Monday. Earlier in the day, the stock saw a gap up start to the session. As per data available on BSE, total traded quantity on the counter stood at 7,574 shares with a turnover of Rs 2.12 crore till 01:55PM (IST). The stock traded at a price-to-earnings (P/E) multiple of 51.68, while the price-to-book value ratio stood at 27.81.

<a rel=«dofollow» href=«https://economictimes.indiatimes.com/divi» s-laboratories-ltd. data-ga-onclick=«Inarticle articleshow link click#Markets#href» target="_blank">Divi's Laboratories Ltd. traded 2.62 per cent in Monday's trade at 02:00PM (IST). Around 18,681 shares changed hands on the counter. The stock opened at Rs 6025.60 and touched an intraday high and low of Rs 6032.95 and Rs 5931.70, respectively, in the session so far. Shares of the company of <a rel=«dofollow» href=«https://economictimes.indiatimes.com/divi» s-laboratories-ltd. data-ga-onclick=«Inarticle articleshow link click#Markets#href» target="_blank">Divi's Laboratories Ltd. quoted a 52-week high of Rs 6448.75 and a 52-week low of Rs 3350.05.

Lupin Ltd. traded 0.37 per cent in Monday's session at 12:39PM (IST). The stock opened at Rs 2133.55 and has touched an intraday high and low of Rs 2139.00 and Rs 2113.65, respectively, during the session so far. The stock quoted a 52-week high of Rs 2312.00 and a 52-week low of 1200.35. About 4,778 shares changed hands on the counter so far.

Varun Beverages Ltd. 0.44 per cent to Rs 641.20 in Monday's trade as of 12:13PM (IST). The stock hit a high price of Rs 650.00 and low of Rs 639.60 during the session. The return on equity (ROE) for the stock stood at 29.64 per cent. Traded volume on the counter stood at 12:13PM shares and turnover at Rs 9.22 crore around that time. The stock of Varun Beverages Ltd. quoted a 52-week high price of Rs 682.84 and 52-week low prices of Rs 424.30, respectively.

ACC Ltd. traded 0.41 per cent at Rs 2268.20 at 12:18PM (IST) on Monday, even as BSE benchmark Sensex 11.06 points to 81698.06. The scrip had closed at Rs 2258.85 in the previous session. The stock quoted a 52-week high price of Rs 2843.00 and 52-week low of Rs 1867.15, respectively. As per BSE data, total traded volume on the counter till 12:18PM (IST) stood at 4056 shares with a turnover of Rs 0.92 crore.

«The broader markets on its part is way too expensive than historical numbers. One-and-a-half times deviation from the mean when you come to valuations on the small and midcap index whether it is 2007 levels or 2017, 18, 19 when you saw massive rally in the broader market. So, there is room for cautiousness to be exercised, not that I am very bearish on the market but I think some caution is warranted,» says Manish Sonthalia, Emkay Investment Managers. This market has made a very decent comeback. IT index at an all-time high. Bank Nifty marching towards an all-time high. Has that sharp correction or the sharp correction which hit us in October, November, do you think that is over? Manish Sonthalia: So, I am not in the camp who believe that the worst has been over, not that the markets will fall, but the markets can fall and this is based on whatever we are seeing at the ground level. Earnings slowdown, consumer leverage actually blowing off.

Tube Investments of India Ltd. traded 0.4 per cent at Rs 3697.55 at 11:48AM (IST) on Monday, even as BSE benchmark Sensex 54.87 points to 81763.99. The stock had settled at Rs 3682.55 in the previous session. The stock quoted a 52-week high and 52-week low of Rs 4807.05 and Rs 3333.90, respectively.

People with substance use disorder are not getting a direct say on how most opioid settlement money is used

Persistent Systems Ltd.(up 0.89 per cent), L&T Technology Services Ltd.(up 0.71 per cent), Coforge Ltd.(up 0.55 per cent) and MphasiS Ltd.(up 0.5 per cent) were among the top gainers.

Bharat Forge Ltd. traded at Rs 1366.95 on BSE at 10:41AM (IST) on Monday, 0.88 per cent from previous close. The stock quoted a 52-week low price of Rs 1063.40 and a high of Rs 1826.20.